Gold 11.07.2019 – Gold near multi pivot support at $1.481-$1.476, big decision level

Trading 07 nov 2019 Donner votre avis

Gold is at the major multi pivot support at the price of $1.481. The zone from $1.481-$1.476 would be critical for the direction of Gold. Watch for the price action reaction around this critical multi-pivot support .

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For the downside you would need:

I would like to see the breakout below $1.476 and consolidation after the breakout in order to confirm eventual test of $1.460 (main pivot low)

For the upside you would need:

I would watch for potential bull divergence on the lower frames in order to confirm potential upside rotation and test of $1.494.

MACD oscillator is showing decreasing moment on the most recent down movement.

The material has been provided by InstaForex Company - www.instaforex.com

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